How we pay interest

On the last day of each month we calculate the interest you've earned each day of that month and then pay you this interest on the 1st day of the next month. We normally pay you this interest 'net' of any tax, which means we deduct any tax due and pass it to the government for you.

If you're a higher rate tax payer, you'll need to settle any extra tax through your tax return. If you don't pay tax, just download the HMRC R85 form and follow the instructions.

Nationwide Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 106078. You can confirm our registration on the FCA's website (www.fca.org.uk) or by contacting the FCA on 0800 111 6768.